Assault on Ukraine Continues as Russian Troops Try to Encircle Kyiv; West Imposes Sanctions

LOCAL NEWS

• The assault on Ukraine resumed overnight with US intelligence pointing to efforts to surround Kyiv to “decapitate” the state within days. Air strikes and heavy fighting are till going on around Kyiv in the north west, south and east, while Kharkiv, Mariupol, Hostomel also experience fighting. Tanks have also been seen moving down from Chernobyl and also towards Kherson where fighting is underway.
  • Experts say this could be the most intense day of fighting, but note that Russian ground troops have yet to be inserted, with the preference for aerial assets still being used.
  • Ukraine’s minister of Defense called all who were “ready and able to hold a weapon” to mobilize and urging hacker networks to target Russia - Express, OSINT Twitter
• Yesterday, the West imposed extensive sanctions packages targeting Russian banks, defense & energy companies, tech exports, Duma members, top officials and Oligarchs in the broadest package of measures seen to date, but no consensus was found over SWIFT disconnection with Germany pushing back on the idea.
• Biden said US sanctions amounted to equal or more than the consequences of SWIFT, adding that 7k more US troops would be deployed to NATO allies in the region.
  • Russia said in response that it would take harsh counter-measures in tit-for-tat style, but failed to elaborate on them. Meanwhile extensive anti-war protests have erupted around Russia with thousands detained by police – bbg, TASS, Express
• Meetings today: Biden to meet virtually with heads of state (0900ET), NATO teleconference

Data:

• 1600GMT: Feb Industrial production exp at 7.2% vs 6.1% prior